The Indiana Pacers announced Thursday they have signed second-round draft pick Lance Stephenson to a multi-year contract.

Per club policy, terms of the contract were not disclosed.

Stephenson was the 40th overall pick in June's NBA Draft.

The 2010 Big East Rookie of the Year from Cincinnati recently played for the Pacers' summer league team in Orlando where in four games he was the Pacers' second-leading scorer at 14.8 ppg.